The Government has announced a new payment, the Resurgence Wage Subsidy. It’s a two-week payment for businesses who meet the criteria and aren’t getting the Wage Subsidy, Wage Subsidy Extension or the Leave Support Scheme.
The new wage subsidy runs alongside the existing wage subsidy extension – which remains open until 1 September for eligible businesses. The criteria are like the current extension: In particular, a business must have had or is predicting to have, a revenue drop due to Covid-19 of at least 40 per cent. For this new scheme, the revenue drop applies for any consecutive period of at least 14 days within 12 August and 14 September compared to last year. Information on criteria can be found here.
MSD has advised the new wage subsidy scheme will be open for applications by the end of this week, Friday 21 August.
We would advise anyone who feels they are eligible for the two-week “Resurgence Wage Subsidy” (RWS) to talk to us before applying. It may be that you are actually eligible for the Wage Subsidy extension which is for an eight week period compared to the RWS which is only for two weeks.
It is early days yet and there will be more commentary available and certainly on how this works over the next few days. We will keep you posted of any additional information.
Remember if you have already applied for the Wage Subsidy Extension then you are not eligible for the Resurgence Wage subsidy.